Magneti Marelli has five manufacturing sites in three locations in China. It employs 800 people, says Razelli. In China, it produces powertrain components; exhaust products; electronic systems; and automotive lighting.
â€œElectronics, lighting, and powertrain will be the three business areas growing the fastest,â€ says Razelli.
Most of the increase will come from domestic sales, he says.
â€œThe numbers include a bit of export,â€ says Razelli. The 10 percent figure does not include purchasing from China for Magneti Marelliâ€™s worldwide operation, he adds.
New regulations in China such as stiffening emissions standards and consumersâ€™ growing concern with safety will help Magneti Marelli increase its sales, says Razelli.
Razelli was in Shanghai to open a new Magneti Marelli office. It will principally house lighting products personnel.
As it expands in China, Magneti Marelli is willing to invest alone or through joint ventures with auto-makers or suppliers, he says. Until now, all of Magneti Marelliâ€™s manufacturing in China has been through companies it fully owns.
Says Razelli: â€œFirst we wanted to establish a solid presence in China. Now we are willing to consider partnerships.â€
Magneti Marelli ranked 30 on the Automotive News Europe top 100 global suppliers list with worldwide sales of $4.97 billion in 2006